Eildon Housing Association
QMPF is delighted to have supported Eildon Housing Association in securing a £40 million private placement deal with major investors the Pension Insurance Corporation (PIC).
This attractive long-term investment will enable the Association to continue to invest in a major programme of high-quality affordable homes to meet the housing needs of communities across the Scottish Borders, delivering 750 new homes by 2021.
QMPF supported the Association from the outset, considering funding routes, supporting the management team in commencing the process, liaising with the Board and providing independent financial evaluation of the offers received. The funding process attracted interest from several major financial institutions, and this represents PIC’s first private placement with a Scottish housing association. The 35-year private placement will be drawn down in two stages over the next two years.
QMPF continues to provide treasury and wider financial advisory support to a number of Scottish RSLs. Our information sheet ‘Get Geared Up: 10 Practical Ways to Prepare for a Private Placement in the Social Housing Sector’, is available here
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